Morito Co., Ltd.TSE: 9837

Presentation Material for the Nine Months Ended November 30, 2025

Oct 10, 2025 at 2:47 AM UTC · Issued by Morito Co., Ltd.

MORITO CO., LTD.

Presentation Materials forthe Third Quarter of Fiscal Year Ending November 30, 2025, Financial Results

Prime Market of TSE: 9837

October 2025

Message from the CEO

With the consolidation of MITSUBOSHI CORPORATION in 3Q following Ms.ID, net sales, operating profit, and ordinary profit hit all-time highs since we began reporting quarterly results.
The gross profit margin has remained in the 30% range since 2Q as the gross profit ratio for existing businesses continued to improve moderately on top of the positive effect of the recent consolidation.
Performance of the kitchen-appliance-related services and B2C businesses is expected to remain steady as we recover from the impact of inventory adjustments that lasted until last year especially in the domestic apparel industry.
From 4Q onward, we anticipate some concerns about stagnant demand due to

U.S. trade policy and a shortened sales period for winter products of apparel brands caused by heat waves.

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CONTENTS

Company Profile
FY2025.11 3Q Financial Results
FY2025.11 3Q Segment Information
(FYI) Operating Profit by Business Segment
FY2025 Full-Year Forecast
Business Topics
Shareholder Returns
(FYI) 8th Mid-term Management Plan

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Company Profile

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MORITO Group Values

Founding Principles

Active and Steadfast

Corporate Principle

DESIGN YOUR BRIGHT FUTURE WITH OUR VARIOUS PARTS.

Corporate Vision

Create MORITO’s existence value, Realize “New MORITO Group”

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Company Profile

Founded in 1908
- Began operating in Osaka as a broker of eyelets and snap fasteners
- Later expanded operations mainly for sales of MAGIC TAPE® and other clothing accessories and automotive interior components.
Trading company with manufacturing functions
- A specialized trading company that handles everything from planning and development to manufacturing, wholesale, and distribution
- Operating in 23 locations around the world
  Eyelets Snap fasteners
  MAGIC TAPE®
  *Eyelet: A metal ring attached to a hole in shoes,
  clothing, etc. through which a lace or cord is threaded
Operating three businesses

Apparel, product, and transportation businesses form the core of our operations
Ratio of in-house production and procurement is 3:7

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Operations by Business

Apparel Business

Product Business

Transportation Business

Snap fasteners MAGIC TAPE®

Buttons

MAGIC

TAPE®

Grease filters

Insoles

Snap fasteners

MAGIC TAPE®

Nets

Tape Eyelets and

shoelaces

In-house brand products

Applications

Straps

Applications

Skateboards, snowboards, and surfboards

In-house brands

Emblems Trunk floor lining

Applications

Casual wear/shoes Sportswear/shoes Workwear/shoes Medical wear, baby wear Formal wear/shoes

Bags and accessories Ladies' wear

Insoles and shoe care products Video equipment-related products

such as camera/PC cases and mouse pads Braces and supports, safety products, teaching tools and stationery Skateboards, surfboards, etc.

Active sports products Grease filter rental service

Automotive interior components Railway and Shinkansen interior components

Aircraft interior components

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MORITO’s Strengths

Lines of business for daily necessities, which are unaffected by trends
Since we deal in parts for things that are vital to people’s daily lives, many of our businesses are
essentially immune to trends or economic downturns and can continue to operate as usual.
Stable performance with a diversified portfolio
Operating worldwide with three core businesses focused on apparel, products, and transportation,
we have maintained a stable financial performance without falling into the red despite the impact of the
oil crises (in the 1970s), the 2008 financial crisis, and the COVID-19 pandemic.
Enjoying high market share for various products targeting niche areas
Many products dominate the market in their respective industry.
We have the top market share for metal snap fasteners in Japan, and the highest or second-highest in
the world.
Global manufacturing, procurement, and sales capabilities

In addition to our own locations, we have partner plants and distributors all over the world, giving us close proximity to our customers and the ability to respond to their every need.

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MORITO's High Value-added Products: Product Examples

We develop original, value-added products that meet the needs of customers and consumers to win over customers looking for high functionality and quality. Here are some product lines that generate higher profit margins than standard products.

Product name: Raku Raku Kan®

This product combines a spring with a hook and bar closure to be used over the zipper on bottoms for formal wear, uniforms, etc.

When one's waist size expands after a meal, etc., it automatically stretches through the spring which relieves tightness.

Product name: Tapey Snapper®

This product integrates plastic snaps into tape. It allows customers to eliminate the process of attaching plastic snaps at their sewing factory. Since all they have to do is just sew the tape onto the fabric, they don't have to invest in the equipment for their factories. It's popular with baby and children's brands because it's safe and secure with little risk of falling out.

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FY2025.11 3QFinancial Results

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FY2025 3Q Summary of Financial Results

(Million JPY)

(FYI) 2023.3Q

2024.3Q

2025.3Q

Y/Y

Increase/

Decrease

Percentage

change

Net sales

35,551

35,625

40,595

+4,970

+14.0%

Gross profit

(%)

9,607

(27.0%)

10,403

(29.2%)

12,451

(30.7%)

+2,047

+19.7%

Cost

(%)

7,856

(22.1%)

8,249

(23.2%)

10,070

(24.8%)

+1,820

+22.1%

Operating profit

(%)

1,750

(4.9%)

2,153

(6.0%)

2,381

(5.9%)

+227

+10.6%

Ordinary profit

(%)

1,993

(5.6%)

2,285

(6.4%)

2,644

(6.5%)

+359

+15.7%

Net income

(%)

1,729

(4.9%)

1,919

(5.4%)

3,013

(7.4%)

+1,093

+57.0%

* MITSUBOSHI CORPORATION was consolidated in 3Q 2025.

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FY2025 3Q Major Factors for Y/Y Changes

Net sales, operating profit, and ordinary profit hit all-time highs since we began reporting quarterly results. Some expenses, such as personnel expenses, increased.

Net sales +4,970 million JPY

+14.0%

Gross profit +2,047 million JPY

+19.7%

Operating profit +227 million JPY

+10.6%

(+) Recovery of domestic apparel market and increase in sports- and outdoor-related products

(+) Recent consolidation of Ms.ID and MITSUBOSHI CORPORATION

(-) Decrease in active sports products due to a warm winter the year before last and inventory adjustments

(-) Decline in Japanese automotive manufacturers’ sales volumes in China

(+) Recent consolidation of Ms.ID and MITSUBOSHI CORPORATION

(+) Awareness about improving and maintaining gross profit ratio permeating across the company

(-) Decrease in active sports products

(+) Improved gross profit

(-) Increase in personnel expenses and expenses related to sales for Ms.ID

Ordinary profit +359 million JPY

+15.7%

(+) Increase due to foreign exchange gains

Net Income

+1,093 million JPY

+57.0%

(+) Gain on the bargain purchase of MITSUBOSHI CORPORATION, totaling 1,105 million JPY (provisional)

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Y/Y

Major factors for changes

(+) Factor for increase (-) Factor for decrease

FY2025 3Q Trends in Net Sales & Gross Profit Ratio

Gross profit ratio hit a record high level. The consolidation of MITSUBOSHI CORPORATION may affect the

gross profit ratio for the full year.

[Positive factors for gross profit ratio]

Recent consolidation of Ms.ID (beginning in 2Q)
Awareness about improving and maintaining gross profit ratio permeating across the company
Sales recovery and gross profit ratio improvement
3Q累計売上高
4Q売上高
売上総利益率
for the domestic apparel business
[Negative factors for gross profit ratio]
Decreased net sales of active sports products
Recent consolidation of MITSUBOSHI CORPORATION (beginning in 3Q)
2025予想
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© 2025 MORITO CO., LTD. 12
29,942
26.1%
31,900
30,102
29,221
24.0%
35,625
35,551
35,172
34,177
32,353
40,595
20,000
25.8%
2025
forecast
31,802
10,000
22.0%
0
20.0%
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
12,043
3Q total net sales
(cumulative)
4Q net sales
Gross profit ratio
(Million JPY)
32.0%
15,405
50,000
12,912
12,978
30.7%
30.0%
Forecast
40,000
11,810
13,306
10,940
26.0%
11,834
29.1%
28.0%
10,865
11,286
10,785
30,000
26.9%
26.9%
26.9%
27.3%
27.3%
26.0%
25.7%
FY2025 3Q Changes in Operating Profit (Y/Y)
Although expenses increased, especially personnel expenses, the recent consolidation of Ms.ID and
MITSUBOSHI CORPORATION made a big contribution to operating profit.
[Details of expenses]
Personnel expenses → Expected to continue increasing due to the strengthening of human capital
Expenses related to Ms.ID sales → Expected to continue to be incurred due to advertising expenses, fees for

sales platforms, etc.

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2025.3Q

Operating profit

+227 Y/Y

2024.3Q

Operating profit

Factors for increase in Factors for decrease

operating profit

-31

Foreign currency effects

-396

Increase in other expenses

2,381

-95

Increase in amortization of goodwill

-669

Expenses related to Ms.ID sales

(incurred due to recent consolidation)

2,153

-688

Higher personnel expenses

recent existing consolidated businesses companies +443

+1,663

Increase in

(Million JPY)

Increase in

gross profit for gross profit for

FY2025 3Q Consolidated Balance Sheet

There are some changes related to the acquisition and consolidation of Ms.ID and MITSUBOSHI CORPORATION.

(Million JPY)

	2024	2025 3Q
Assets
Current assets	32,049	30,502 (-1,547)
Fixed assets	20,427	25,376 (+4,948)
Total assets	52,476	55,878 (+3,401)

	2024	2025 3Q
Liabilities
Current liabilities	8,886	9,783 (+896)
Fixed liabilities	4,313	5,753 (+1,440)
Total liabilities	13,200	15,537 (+2,336)
Net assets
Shareholders’ equity	33,129	33,963 (+834)
Accumulated other comprehensive income	6,147	6,377 (+230)
Total net assets	39,276	40,341 (+1,065)
Total liabilities and net assets	52,476	55,878 (+3,401)

Equity ratio for FY2025 3Q: 72.2%

(FY2024: 74.8%)

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FY2025.11 3Q Segment Information

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FY2025 3Q Net Sales and External Environment by Region

Asia

Sales composition: 15%

(Million JPY)

Japan

Sales composition: 71%

2024 2025

24,111

28,991

Y/Y: +4,880 million JPY

(+20.2%)

2024 2025

6,155

6,223

Y/Y: -68 million JPY

(-1.1%)

Europe & the U.S. Sales composition: 14%

2024 2025

5,290

5,448

Y/Y: +157 million JPY

(+3.0%)

Demand recovery in the apparel market Recent consolidation of two companies

Increased production in Vietnam Sluggish performance of Japanese automotive manufacturers

Steady sales of transportation-related products in North America and workwear

Negative impact of partial withdrawal from the transportation business in Europe

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FY2025 3Q Net Sales and Comments by Business

Net sales

Y/Y

Comments

Apparel Business

22,940 million JPY

+5,211 million

JPY

+29.4%

[Japan]

(+) Recovery from the impact of inventory adjustments

(+) Increase in outdoor and athletic shoes products, workwear for Europe and the U.S., accessories for high-end outdoor brands, subsidiary material for apparel products sold at department stores, and bear sprays

(+) Recent consolidation of Ms.ID and increase in silver accessories

(+) Recent consolidation of MITSUBOSHI CORPORATION and increase in uniform-related materials

[Asia]

(-) Decrease in accessories for casual wear in China and Hong Kong

(+) Increase in workwear for Europe and the U.S. in China and Hong Kong and subsidiary material

欧米

1Q	2Q		3Q	4Q	1Q	2Q	3Q
		2024				2025

Europe & the U.S.

1,174

1,410

1,599

1,405

1,297

1,489

1,551

for apparel products sold at department stores

アジア

Asia

1,444 1,736 1,783 1,821

1,750 1,929 1,692

(+) Increase in accessories for athletic shoes and workwear-related products in Vietnam

[Europe & the U.S.]

日本

Japan

2,512

3,167

2,898

3,270

2,884

4,463

5,881

(-) Decrease in accessories for casual wear in the U.S.

(+) Increase in workwear and leather goods accessories in Mexico

Product Business

13,003 million JPY

欧米

1Q	2Q		3Q	4Q	1Q	2Q	3Q
		2024				2025
10	10		0	3	1	10	0
166	162		198	168	161	154	143
4,513	3,800		3,846	4,525	4,509	4,032	3,988

Europe &

the U.S.

アジア

Asia

日本

Japan

欧米


		1Q	2Q	3Q	4Q	1Q	2Q	3Q
		2024				2025
Europe & the U.S.		393	408	280	452	302	424	371
	Asia	359	185	187	159	115	119	86
	Japan	1,169	1,122	1,080	1,105	1,139	1,018	1,075

Transportation Business 4,651 million JPY

アジア

日本

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+293 million

JPY

+2.3%

-535 million

JPY

-10.3%

[Japan]

(-) Decrease in snowboarding and skateboarding-related products due to warm winter, inventory adjustments, and price hikes the year before last

(+) Increase in stationery-related products and products designed to beat the summer heat (+) Increase in kitchen appliance rental, sales, and cleaning business

[Japan]

(-) Decrease in automotive interior components for Japanese automotive manufacturers

[Asia]

(-) Decrease due to sluggish sales of Japanese automotive manufacturers in China

[Europe & the U.S.]

(+) Increase in automotive interior components for Japanese automotive manufacturers in North America

(-) Decrease due to streamlining by partial withdrawing from some businesses in Europe

(FYI) FY2025 3Q Sales Composition by Region & Business

The percentage for Japan in the Apparel Business increased due to the consolidation of Ms.ID and MITSUBOSHI CORPORATION and the recovery of the domestic apparel market. The Transportation Business remained strong in North America but was affected by the withdrawal of some businesses in Europe and a decline in China.

2024.3Q

2025.3Q

Asia

Asia 14%

Japan 65%

Europe & the U.S. 21%

Japan

Asia 4%

Asia 7%

Japan 69%

Europe & the U.S. 24%

Japan

輸送

4% Transportation

14%

48%

アパレル

Apparel

Transportation

輸送

11%

アパレル

Apparel

58%

Japan 96%

Product

36%

50%

プロダクト

Europe & the U.S. 24%

Asia 28%

Japan 96%

Product

プロダクト

32%

Europe & the U.S. 19%

57%

Asia 23%

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(FYI) FY2025 3Q Net Sales by Segment

(Million JPY)

2025 results
	1Q	2Q	3Q	3Q Total	Composition	Increase/ Decrease	Percentage change
Japan	8,532	9,514	10,944	28,991	71.4%	+4,880	+20.2%
Asia	2,028	2,204	1,922	6,155	15.2%	-68	-1.1%
Europe & the U.S.	1,600	1,924	1,922	5,448	13.4%	+157	+3.0%
Total	12,161	13,643	14,790	40,595	100.0%	+4,970	+14.0%

2024 results
	1Q	2Q	3Q	3Q Total	4Q	Full year	Composition	Increase/ Decrease	Percentage change
Japan	8,195	8,090	7,825	24,111	8,900	33,012	68.0%	-1,058	-3.1%
Asia	1,969	2,084	2,169	6,223	2,149	8,372	17.3%	+667	+8.7%
Europe & the U.S.	1,579	1,829	1,881	5,290	1,861	7,151	14.7%	+398	+5.9%
Total	11,744	12,005	11,875	35,625	12,911	48,537	100.0%	+7	+0.02%

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(FYI) Operating Profit by Business Segment

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FY2024 Net Sales and Operating Profit Composition by Business and Region

In presenting segment profit, businesses related to products that have been added to the MORITO Group through acquisitions or other means are classified as Product . Specific company names for Product are listed on the p23.

*The composition is based on figures before the elimination of intercompany transactions and goodwill amortization, and it may

事業別売上高・営業利益構成比

事業別×地域別営業利益構成比

differ from other disclosed documents.

Net Sales and Operating Profit Composition by Business

Operating Profit Composition by Region and Business

Transportation

16%

Product

10%

Apparel

50%

46%

Product

Transportation

Asia 8%

Asia 31%

Japan

56%

Europe & the U.S. 13%

Apparel

Japan

56%

11%

22%

23%

Net Sales Composition by Business Segment

Operating Income Composition by Business Segment

22%

Japan 92%

Asia 14%

Japan 86%

Asia 31%

Europe & the U.S. 13%

Product Product

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FY2025.3Q Net Sales and Operating Profit Composition by Business and Region

The Apparel Businessin Japan wasincreased by two recentconsolidation companies. In particular, theoperating profit composition of the Apparel Businessin Japan increased significantly by recentconsolidation of Ms.ID.

Operating profit in Product Businessdecreased due to struggles withactive sports.

*The composition is based on figures before the elimination of intercompany transactions and goodwill amortization, and it may

differ from other disclosed documents.

Net Sales and Operating Profit Composition by Business

Operating Profit Composition by

Region and Business

Transportation

13%

Transportation

Apparel

Asia

35%

Europe & the U.S.

事業別×地域別営業利益構成比

事業別売上高・営業利益構成比

20%

Product

10%

16%

10%

Net Sales Composition by Business Segment

56%

Product

10%

Japan 90%

Japan 45%

Apparel

Japan

66%

Product

21%

18%

Operating Income Composition by

Business Segment

Asia 14%

Japan 79%

Europe & the U.S. 14%

Asia 20%

Group Companies by Segment

Transportation Business

Apparel Business

Asia

Japan

MORITO SCOVILL HONG KONG
MORITO SHANGHAI
MORITO TRADING (THAILAND) MORITO (SHENZHEN) MORITO DANANG SCOVILL FASTENERS INDIA
MATEX SHANGHAI
MITSUBOSHI CORPORATION SHANGHAI

Product Business

MORITO APPAREL

MATEX

Ms.ID

MITSUBOSHI CORPORATION

MORITO JAPAN

ACE INDUSTRIAL MACHINERY

MANEUVERLINE

CANVAS

MORITO SCOVILL AMERICAS

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MORITO AUTO-PARTS

Product

MORITO NORTH AMERICA

MORITO SCOVILL MEXICO

MORITO (EUROPE)

Europe & the U.S.

FY2025 Full-Year Forecast

FY2025 3Q Forecast & Progress

Net sales and operating profit were on target. While the provisional recording of a gain on the bargain purchase significantly boosted net income, a cautious decision is required on the valuation of goodwill and trademark rights of MORITO SCOVILL AMERICAS due to uncertainty over consumption caused by

U.S. trade policy and the acceleration of local production for local consumption.

	2025 3Q Results	2025 Full-Year Forecast	Progress
Net sales	40,595	56,000	72.5%
Operating profit （％）	2,381 5.9%	3,200 5.7%	74.4%
Ordinary profit （％）	2,644 6.5%	3,300 5.9%	80.1%
Net income （％）	3,013 7.4%	2,800 5.0%	107.6%

(Million JPY)

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FY2025 4Q Outlook

Overall sales are expected to remain stable, especially in the kitchen-appliance-related services and B2C businesses although stagnant demand due to U.S. trade policy and heat waves pose a slight risk.

Apparel Business	Opportunity	Sales of environmentally friendly products will be strong. The domestic market environment will be better than last year, and Ms.ID will maintain its strong performance. Concerns about making products in China for the U.S. market will whip up demand for manufacturing and procurement in the ASEAN region. Sales in Europe and the U.S. will be steady mainly for workwear.
Apparel Business	Risk	The period for selling winter products will be shortened due to heat waves. Sales of casual-wear-related products for the Chinese market will decline due to changes in customer product specifications in China. U.S. trade policy will drive up the prices of copper and other raw materials used in U.S. manufacturing, and production of U.S. brands will decrease due to uncertainty over consumption in the U.S.
Product Business	Opportunity	Sales of stationery-related products will be strong. The kitchen-appliance-related services business is also expected to remain robust. Sales of snowboarding-related products may recover in FY2026 1Q.
Product Business	Risk	· Sales of active-sports-related products will be higher compared with the first half but will be down for the full year.
Transportation Business	Opportunity	· The several mass production projects have been started in Japan. U.S. trade policy will not affect our sales directly. Currently, there are no changes in automakers’ production plans.
Transportation Business	Risk	The market will be tough due to slumping sales of Japanese automakers in China. Sales will stagnate somewhat due to poor performance of Japanese automakers in North America.

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Business Topics

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8th Mid-term Management Plan: Environmental Initiatives Exhibiting Environmentally Friendly Products at Expo 2025

Aiming to raise awareness of our Rideeco® environmental initiative and strengthen the brand, we exhibited MURON®, a fiber made entirely from discarded fishing nets collected in Japan, ASUKAMI®, a mixed paper made from sewing factory scraps, and other products at Expo 2025 Osaka, Kansai, Japan.

Where innovation is the norm

Apparel Business: Holding Solo Exhibition

Our group company, MORITO APPAREL, held a solo exhibition once again this year with the aim of strengthening sales of products for high-end apparel brands. The exhibition showcased product lines and new products, focusing mainly on those featuring sophisticated designs and functionality as well as environmentally friendly products.

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